KYC

Understand when RWA yields require off-chain identity verification and how eligibility is checked.

Some RWA products require the depositing address to be approved by the issuer, off-chain, before it can enter or exit. This is set per product, by the issuer, and is not a property of the RWA category as a whole: see Issuers for which products require it.

When KYC applies

A yield’s mechanics.requirements.kycRequired field is true when the issuer gates that product behind off-chain verification, and false or absent when it doesn’t. Two products from the same issuer can differ: Midas sets kycRequired: false for mTBILL and mROX, and true for mGLO, mGLOBAL, and mF-ONE.

When kycRequired is true, the same object carries a mechanics.requirements.kyc block with the fields below.

What the KYC metadata describes

Field	Describes
kycMode	How the issuer’s flow is delivered: none, oauth_redirect, external_redirect, iframe, deeplink, or native_sdk
iframeAllowed	Whether the issuer’s KYC page can be embedded in an iframe
authorizeUrl	The issuer-hosted page to redirect the user to for onboarding, when the issuer provides one
eligibility.defaultPolicy	Whether an unlisted jurisdiction is allowed (allow) or denied (deny) by default
eligibility.countries / blockedCountries / blockedSubdivisions	The allow-list, block-list, and blocked subdivisions the issuer applies (ISO 3166-1 alpha-2, plus subdivision codes)
eligibility.usPersonAllowed	Whether a US person is eligible for this product
eligibility.geoBlockingEnforced	Whether yield.xyz enforces the country and subdivision lists against the caller’s IP at action creation
eligibility.investorEligibility	Per-jurisdiction investor tiers the user must hold, each with its own required verification level
eligibility.subjectTypes	Whether the issuer accepts individual verification (KYC), business verification (KYB), or both

The eligibility fields describe what the issuer’s own metadata lists; yield.xyz does not add jurisdiction restrictions of its own beyond what a product’s eligibility object states.

Checking a wallet’s status

GET /v1/yields/{yieldId}/kyc/status returns the wallet’s normalized status for a specific yield, including yields that don’t require KYC.

kycStatus	Meaning
not_required	The yield is permissionless
not_started	KYC is required and the wallet hasn’t begun the issuer’s flow
pending	Declared for onboarding that is awaiting the issuer’s review; no current issuer returns it
approved	The wallet is allowlisted and can transact
rejected	The issuer has declined the wallet

A yield with kycRequired: false can still return rejected when its module screens addresses against an on-chain deny-list, as Dinari USD+ does.

The response also carries authorizeUrl, optionally, when the issuer provides an onboarding page. It typically appears with not_started or rejected and can be absent. For the request flow, see Check RWA eligibility and Get KYC status.

Eligibility and actions

A gated yield’s enter and exit actions run the same eligibility check the issuer enforces on-chain. If the address isn’t allowlisted, the action request fails with 412 Precondition Failed before any transaction is built, carrying the address, the issuer, and the authorizeUrl to complete verification when the issuer has one. This is a safety net: check /kyc/status ahead of the request to render the right state rather than relying on the rejection.

When a product’s eligibility.geoBlockingEnforced is true, yield.xyz also checks the caller’s IP against that product’s country and subdivision lists, independent of wallet allowlisting. A request from a blocked region gets 403 Forbidden, not 412.

Next steps

Issuers

See which issuers and products require KYC.

Actions

Request enter, exit, and manage actions, and handle a failed request.